- Deutsche Bank, Royal Bank of Scotland and UBS are reviewing rules on currencies traders making bets with their own money
- assessing ways to tighten policies on “private account” trading
- review comes amid the UK’s Financial Conduct Authority probing the use of private accounts by forex traders
- Deutsche is considering a threshold for how much personal money a trader will be allowed to trade in each currency, people familiar with the plans said
- Lloyds Banking Group has a similar rule in place, allowing currency trades below a threshold for “legitimate ad hoc dealings” such as obtaining travel currency or repatriating money from abroad – it forbids “regular or speculative” currency trading through personal accounts
- JPMorgan also normally does not allow private trading in instruments in which a trader has “significant dealings” at work
More at the Financial Times (gated – try a search of Google news using the headline, or can be read with a free registration): Banks review rules on forex traders betting own money
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